Heritage Insurance Holdings Inc. (NYSE:HRTG) shares, rose in value on Friday, 08/05/22, with the stock price up by 44.03% to the previous day’s close as strong demand from buyers drove the stock to $3.50.
Actively observing the price movement in the last trading, the stock closed the session at $2.43, falling within a range of $2.50 and $3.50. The value of beta (5-year monthly) was 0.93. Referring to stock’s 52-week performance, its high was $7.56, and the low was $2.26. On the whole, HRTG has fluctuated by 19.45% over the past month.
With the market capitalization of Heritage Insurance Holdings Inc. currently standing at about $84.45 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 01, 2022 – Mar 07, 2022. The company’s Forward Dividend Ratio is 0.24, with its dividend yield at 6.86%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.04, which is expected to increase to $0.45 for fiscal year -$1.03 and then to about $0.64 by fiscal year 2023. Data indicates that the EPS growth is expected to be -102.00% in 2023, while the next year’s EPS growth is forecast to be 162.10%.
Analysts have estimated the company’s revenue for the quarter at $158.99 million, with a low estimate of $147.47 million and a high estimate of $167.61 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $659.46 million, representing an increase of 4.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HRTG’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HRTG currently trading nearly 40.76% and 17.92% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 68.69, while the 7-day volatility ratio is showing 14.69% which for the 30-day chart, stands at 7.58%. Furthermore, Heritage Insurance Holdings Inc. (HRTG)’s beta value is 0.88, and its average true range (ATR) is 0.23.
A comparison of Heritage Insurance Holdings Inc. (HRTG) with its peers suggests the former has fared considerably weaker in the market. HRTG showed an intraday change of 44.03% in last session, and over the past year, it shrunk by -49.86%%. In comparison, RLI Corp. (RLI) has moved higher at 1.22% on the day and was up 2.37% over the past 12 months. Additionally, there is a gain of 0.60% for Arch Capital Group Ltd. (ACGL) in last trading while the stock has seen an overall depriciation of 9.55%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.
Data on historical trading for Heritage Insurance Holdings Inc. (NYSE:HRTG) indicates that the trading volumes over the past 10 days have averaged 0.16 million and over the past 3 months, they’ve averaged 307.09K. According to company’s latest data on outstanding shares, there are 26.79 million shares outstanding.
Nearly 8.40% of Heritage Insurance Holdings Inc.’s shares belong to company insiders and institutional investors own 63.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.37 million shares as on Jul 14, 2022, resulting in a short ratio of 0.92. According to the data, the short interest in Heritage Insurance Holdings Inc. (HRTG) stood at 1.41% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 1.2 million. The stock has fallen by -40.48% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HRTG stock heading into the next quarter.